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Gold, Silver, and Uranium – 4 Charts The Are Critical For Investors

Cory댊
August 16, 2021

Steve Penny, Publisher of The SilverChartist Report joins us to share his insights on some of the key charts and level to watch as all the sectors are close to testing important support levels.

Click here to visit The SilverCharist Report and learn more about what Steve is covering.

Discussion
51 Comments
    Aug 16, 2021 16:57 PM

    Good discussion. On the chart I’m looking at, a MACD sell signal is perhaps two mouse hairs from appearing. I’d get my cash ready and be betting on a stink bid at about $3.40 If I owned and wanted more of this stock. jmo

      Aug 16, 2021 16:04 PM

      Thanks Silverdollar. On your comment about the MACD sell signal and stink bid at $3.40 – that was in relation to Energy Fuels (UUUU) right?

        Aug 16, 2021 16:39 PM

        Yes, and not investment advice.

    Aug 16, 2021 16:00 PM

    Great discussion guys. Looks we are at one of those points that could see things go either way. Good to hear that probability may favor up…cautious optimism. Another great interview.

      Aug 16, 2021 16:06 PM

      Much appreciated David. Yes, both gold and silver are definitely at an inflection point, but with the longer term uptrend still being in place, and providing that support does hold, then yes there is still a higher probability of a break to the upside to continue the trend of higher lows.

        Aug 16, 2021 16:35 PM

        The battle is raging, endlessly and loudly, back and forth, the very foundations of government depend on having a stable currency backed by gold. Just as during the prohibition era when the public realized it is impossible to dry up their country people will start to show disrespect for their currency, when they find out the abolition of the gold standard has destroyed the basis of American prosperity.

          Aug 16, 2021 16:01 PM

          Who is going to tell them that we will listen to.

            Aug 16, 2021 16:38 PM

            Josh Phair: A New Generation is Creating Demand for Gold & Silver

            Palisades Radio – August 12, 2021

            Tom welcomes Josh Phair, President of Scottsdale Mint, to the show.

            0:00 – Introduction
            0:31 – His Background
            7:24 – Demand Picture
            14:08 – Raw Materials
            23:39 – Premiums & Supply
            27:12 – Vetting Suppliers
            29:15 – Risk Management
            31:53 – Market Risks Today
            35:31 – Rehypothecation
            44:23 – Educating Investors
            49:33 – Price & Volatility
            54:07 – Wrap Up

            https://youtu.be/pH9eNduu8mI

    Aug 16, 2021 16:24 PM

    Anybody , not buying PHY. silver , at these prices , need their heads examined.

      Aug 16, 2021 16:15 PM

      Goldupdate!

      If you need anymore I dictation Where the minors are headed take a good look at impact Silver today. As mentioned long ago these miners like it or not continue to get naked shorted and taken down for good purpose. I don’t like it anymore then the biggest gold bug there is out there but that’s what’s happening and it’s fact. We can cry the blues but the mo they chart action as mentioned a billion times since last august high continues to point down. Even if we have a bounce here Imo it would be a cat bounce.

      Doc said it best we are still sometime away from a bottom in the miners. Many miners have yet to catch up to others and they will. Some will start rounding out but many will retrace to at least 61.8% and some are headed to 78.6.

      I have yet to use my remaining dry powder it’s just not worth it at this point considering I believe we are heading a bit lower from here. 12 months and counting. Anyone’s guess but I’m confident not yet.

      If this one leg lower that i suspect is coming eventually plays out then we will be ready to use remaking funds. Hang in there folks I’m as optimistic as ever regardless of this action. Good luck to all and do what is best for yourself and your accounts.

      Glen

    Aug 16, 2021 16:41 PM

    Chris Vermeulen: Gold Washout — Price Scenarios After Recent Fall

    Investing News Network – August 12, 2021

    Chris Vermeulen, chief market strategist at TheTechnicalTraders.com, explained what he thinks could be next for the yellow metal, looking at both higher and lower scenarios.

    0:00 – Intro
    0:19 – Understanding this week’s gold price washout
    3:06 – Where investors are looking instead of gold
    6:15 – What would bring precious metals to life?
    9:16 – Upside potential for gold in 2021
    13:35 – Silver rangebound, needs conviction
    15:05 – Chris’ portfolio and market areas he likes
    19:27 – Details on URLYstart program
    22:09 – Outro

    https://youtu.be/JuARmA3yJKs

    Aug 16, 2021 16:05 PM

    Why TIPS Are Useful But Imperfect At Hedging Inflation

    Lyn Alden Schwartzer – Aug. 16, 2021 – Seeking Alpha

    “TIPS can do better than normal Treasuries in an inflationary environment.”

    “However, counter-intuitively, they are still virtually guaranteed to underperform inflation.”

    “TIPS are a low-volatility way to play defense against inflation, but some more volatile assets can be the biggest winners in such an environment.”

    “In other words, if you buy a TIPS and hold through maturity, you are guaranteed to lose money vs the consumer price index. That 10-year TIPS note will adjust according to prevailing CPI changes, but meanwhile you’ll be earning a negative interest rate on it. So you’ll keep up with official inflation, minus that negative rate. In return for lending the government your money, the government promises to pay you back less purchasing power than you gave it. Ouch.”

    “If truly high inflation happens for a long stretch of time, then some basket of hard/scarce assets like gold (GLD), silver (SLV), industrial commodities and their producers (GUNR), oil and oil producers (XLE), certain types of real estate, and bitcoin (OTC:GBTC) are likely to do better than TIPS.”

    https://seekingalpha.com/article/4449624-why-tips-are-useful-but-imperfect-at-hedging-inflation?mail_subject=lyn-alden-schwartzer-why-tips-are-useful-but-imperfect-at-hedging-inflation&utm_campaign=rta-author-article&utm_content=link-0&utm_medium=email&utm_source=seeking_alpha

    Aug 16, 2021 16:14 PM

    Doc Jones and What Gold Miners are Telling Us

    Mining Stock Daily w/ Trevor Hall – (08/16/2021)

    https://anchor.fm/mining-stock-daily/episodes/Doc-Jones-and-What-Gold-Miners-are-Telling-Us-e160v1g/a-a6c1ahf

    Aug 16, 2021 16:38 PM

    Andrew Hecht at SA writes about some traders going to jail for manipulating PM markets.

    Aug 16, 2021 16:05 PM

    It seems we might have a funny looking little H&S top in the Canadian dollar. If so, it projects to about 78.33…
    https://stockcharts.com/h-sc/ui?s=%24CDW&p=D&yr=1&mn=0&dy=9&id=p21827107886&a=579387550

    Aug 16, 2021 16:06 PM

    Not a very encouraging today as gold closes higher and the miners disappoint in this rally. Encouraging is the fact that pricing closed right at 20 month moving average of the monthly BBs. If we can close the month where we are now or higher then the bullish move for a significant move higher near term stills holds out hope. The weekly chart for gold holds hope while the monthly chart is still problematic.

    Aug 16, 2021 16:09 PM

    GDX vs QQQ continues to slide down fork support but has been diverging bullishly for the last 6 weeks. The turn IS coming, but when?
    https://stockcharts.com/h-sc/ui?s=GDX%3AQQQ&p=D&yr=1&mn=2&dy=9&id=p83039095822&a=978546851

    Aug 16, 2021 16:17 PM

    It took about 53 weeks but GDX vs SPY hit what should be good fork support last week:
    https://stockcharts.com/h-sc/ui?s=GDX%3ASPY&p=W&yr=5&mn=0&dy=0&id=p06513032251&a=975935311

      Aug 17, 2021 17:49 AM

      studied the above few charts…real good Matthew….the 233 fib thing i never heard of …that must be your innovation?

        Aug 17, 2021 17:33 AM

        No, I didn’t come up with using Fib numbers for MAs but it seems not many do.

    BDC
    Aug 17, 2021 17:43 AM

    Note URA and URNM : https://tinyurl.com/46mterc6

      Aug 17, 2021 17:09 AM

      Beat gold all to heck….
      Cobalt demand
      Currently trading at around U.S. $50,000 a ton, cobalt is a critical component in electric vehicle batteries. EV sales will likely continue to rise in the coming years as the world strives to reduce carbon emissions.

    Aug 17, 2021 17:10 AM

    gdx day…if the lower green dashed channel line holds today, will look to intra-day charts…right now price is below a negative OUL and below a neutral blue dashed TAS formation….with RSI divergence confirmed buy intact yet..
    https://tos.mx/PgApUXr

    Aug 17, 2021 17:52 AM

    New recent trend: 5 or 6 miners positive a day out of 40.

    b
    Aug 17, 2021 17:53 AM

    Gold & The Winds Of War
    Stewart Thomson
    @321

    “I don’t share those concerns because I sold into the $1850 area for gold, and I’m prepared to buy the $1566-$1450 zone.”

    The guesses seem to be getting lower.

      Aug 17, 2021 17:45 AM

      Stewart sells a little into all resistance levels and buys a little into all support levels. The greater the “surprise” the level is, the bigger his trades are. My point is that I don’t think he’s predicting 1500 gold, he’s just ready for it. That’s how it should be. It’s the Elmer Fudd class of investor that gets preoccupied with predictions and then goes in or out at one price. There are exceptions, of course. Good traders with good systems and good discipline are an example.

    Aug 17, 2021 17:55 AM

    Yamana! Doc would like this round bottom(!!)

    https://ibb.co/HgPYG1C

    Aug 17, 2021 17:03 AM

    Matthew looked at this relationship last week. Looks like it put a double bottom?

    https://ibb.co/KNgmW47

    Aug 17, 2021 17:07 AM

    What a circus. Looks like algos are triggered. Waiting for funds to clear to buy more or something…

      Aug 17, 2021 17:09 AM

      Do they make bigger graph paper. Looks like charts are running off the page.

    Aug 17, 2021 17:48 AM

    If HL doesn’t reverse here, it’s heading for about 5.55 next, followed by 5.20
    https://stockcharts.com/h-sc/ui?s=HL&p=D&yr=1&mn=6&dy=0&id=p65924065563&a=855586289

      Aug 17, 2021 17:44 AM

      Looks like it has turned at the 5.80 to 6.00 several times before…but…

      Aug 17, 2021 17:19 AM

      Triple fork aught to be worth something…I would have settled for just one.

      Aug 17, 2021 17:06 PM
        Aug 17, 2021 17:25 PM

        Hey Matt,
        Ramby is still not in the pm space….actually bought DUST and JDST today. I guess he is seeing a retest of that 2020 March low. He admits it is a risky play…and might get stopped out.

          Aug 17, 2021 17:26 PM

          How you listen to rambus with all due respect is beyond me! My track record and docs is far better…

          Glen

            Aug 17, 2021 17:39 PM

            Predicting the future is not without risk or error. All options must be considered.

          Aug 17, 2021 17:00 PM

          Thanks for that, Confused. I can see why he’s betting bearish here but I would’ve waited if I were him since the intraday charts are indicating that a rise is more likely in the very near term (probably starting tomorrow).
          I’m sure he knows how to manage risk but those levered ETFs could do him more quick harm than he might expect.

            Aug 17, 2021 17:43 PM

            Hi Matt,
            yes he is well aware and is only buying an initial/1st of 3 positions. If it works, he would put in another, if it doesn’t he gets stopped out. He is telling subs this is a very risky move so…he is not a cowboy trader. I hope he is wrong, but he’s been on the right side of things for several moths now. I wonder if he is sensing the fed is going to utter a “taper-early” statement soon for 2022. That could run gold back to or below that 1670 region and flush out a lot of folks. Sentiment is already bad, so not sure why that would happen now. You have to be mentally prepared for the worst outcomes. This so-called bull has not acted bullish, at least for small caps, for several months now. If the Fed/Jackson hole, murmurs rate hikes in 2022, it would probable create a massive short-lived spike low in the PM’s and reverse hard like March 2020. The general stock market would get a 15% kicking too. I wonder if they would do something like that to reset general investors frothy sentiment. Either way, Ramby is gambling.

    Aug 17, 2021 17:01 PM

    ugly time for golds. If ugly is a good time to buy then this is perfect. I will just continue to watch the misery.

    Aug 17, 2021 17:33 PM

    the Jaguar wounded badly

    Aug 17, 2021 17:40 PM

    The market may go up, or it may go down. Flip of the coin. LOL.